Life Insurance Questions

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About The Grow-Up® Plan

The Grow-Up® Plan is a whole life insurance policy for a child that builds cash value. You’re the policy owner until your child reaches age 21. At that time, your child becomes the policy owner and is guaranteed lifelong insurance protection, as long as premiums are paid. Plus your child has the option to buy additional coverage as an adult, regardless of health or occupation.

Each time you make a monthly premium payment for your child’s Grow-Up® Plan, Gerber Life sets aside a small amount of that money. Over time, this becomes the cash value of your policy. This money is available for you to borrow if you ever have the need for ready cash. As an adult, your child will have the option to turn in the policy and receive the available cash value. Click here to learn more about cash value.

The cost of a Grow-Up® Plan varies based on the amount of coverage you choose, your child’s age at the time of your application, and the state where you live. Scroll below to get a free quote instantly.

Yes. You can borrow from the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate. You can also surrender the policy and receive the available cash value.

No, there is no obligation to buy additional insurance. As long as premiums are paid, your child’s existing whole life insurance coverage will continue automatically. As an adult, your child is guaranteed the option to buy additional life insurance at our standard age-based rates should they want greater protection, no matter their health or occupation.

Yes. If you decide to cancel the policy, you’ll receive the accumulated cash value that has built up over time, minus any outstanding debt against the policy. The same is true after your child becomes the policy owner.

You can pay your monthly premium by mail, by phone, or online using a checking/savings account or a credit/debit card. You can save 10% on your Grow Up premium by setting up automatic payments from your checking or savings account. You can also set up automatic payments to make managing your policy even easier through our eService platform.

You can apply for a Grow-Up® Plan policy online, by mail or by phone. Applying online is quick and easy – just provide some basic information about you and the child you want to insure, and choose your coverage amount. Your application will be reviewed by our underwriting team and you will be notified as soon as it’s approved. You may be contacted by our underwriters if any additional information is needed to approve your application.

To apply for a Grow-Up® Plan policy for another child, please complete and submit a new application. You can do this by filling out the form at the bottom of this page and following the easy instructions.

Yes. A child’s parent, grandparent or permanent legal guardian may apply for the Grow-Up® Plan – a parent’s signature is needed only where required by law. The person applying is the policy owner until the child reaches age 21.

About the Term Life Plan

Term life insurance is one of the most popular types of life insurance because it provides protection for a specified period of time – a "term” – and can cost less than other types of life insurance. Our Gerber Life Term Life Policy is available for a duration of 10, 20 and 30 years, choose the duration that works best for you and your family.

At the end of the term your policy coverage ends. If you decide your family is still in need of coverage, you can renew your policy agreement at the premium rate for your age at that time – with no physical exam. This is a large benefit for those whose health may have changed during the policy term.

Term life insurance is popular because it’s one of the most affordable ways to protect your family financially after the loss of a parent or family provider. Term provides coverage for just the number of years you select, so it costs less than other types of life insurance. Family left behind as “beneficiaries” would have money available to pay bills, cover final expenses, or pay for future expenses such as a child’s education.

No medical exam is necessary in most cases. Coverage is dependent on answers to health questions. A physical may be necessary for cause or for applicants ages 51 and older who apply for more than $100,000 of coverage. In almost all other circumstances, Gerber Life’s customers will not need a medical exam.

Financial reliability is a critical consideration when choosing a life insurance provider. You want to know that the company you choose will be there when needed. Gerber Life has a long history of being there, and is conservatively managed to ensure long-term growth and financial stability.A.M. Best, the impartial reporting firm that rates insurance companies on financial stability, management skill, and integrity, has awarded Gerber Life an “A” (Excellent) rating, for 16 consecutive years, most recently in May 2018. This rating is the third highest awarded out of 13 possible categories. The rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, rates or practices of the company.

About the Whole Life Plan

Whole life insurance provides permanent life insurance coverage for your entire life, as long as you pay your monthly premium, and builds cash value over time. By comparison, term life insurance offers protection for only a specified period of time and does not build cash value.

One of the key benefits of whole life insurance is having life insurance for your lifetime. You can lock in an affordable premium rate that will never increase for as long as you own the policy, making your payments predictable and easier to plan your budget. Whole life insurance builds cash value over time, providing an extra financial safety net for the unexpected.

Each time that you pay your premium, the insurance company sets aside a small amount, which builds up over time as the policy’s cash value. The longer you hold the policy, the more cash value the policy builds. If a need arises, and as long as premiums are paid, you could borrow against the available cash value* to help cover lost income, rent or mortgage payments, education costs, or other expenses. Or, you can turn in the policy later on and receive the available cash value.

The Gerber Life Whole Life Policy offers coverage from $50,000 to $300,000 to fit various needs and budgets. Choose a coverage amount that works best for you. Find out how affordable your premium can be with a free quote.

No, the amount you pay when your coverage starts is the same amount that you‘ll pay throughout the life of your Gerber Life Whole Life Policy. The sooner you apply, the lower your lifetime premium rate, since premiums are based on your age when your policy starts.

That’s your choice. You could pay back the borrowed money plus accrued interest, to make your policy whole. Or, if you chose not to pay it back, then the money borrowed plus accrued interest will be deducted when the policy's death benefit is paid or the policy is cashed in.

A medical exam is not necessary in most cases. Coverage is dependent on answers to health questions. A physical may be necessary for applicants who are age 51 and older and apply for more than $100,000 of coverage.

About the Accident Protection Plan

This individual policy, available to you and your spouse, provides cash benefits in the event of accidental death or a covered disabling injury as the result of an accident — 24 hours a day, anywhere in the world.

Whole life insurance does not have a specified time period of coverage. You can own the policy for a few years or for the rest of your life, as long as you pay the premiums. Whole life insurance also builds "cash value." Cash value is money that is set aside by Gerber Life for your policy, which can be accessed if needed. The longer you own the whole life policy, the more cash value you have in your policy.

Gerber Life offers a wide range of Guaranteed Life coverage options from $5,000 to $25,0001. Coverage is available in $1,000 increments. Our friendly representatives can help you determine the coverage that best suits you and your family.

If you qualify, Social Security will pay $225 toward your final expenses. That is just not enough – the average cost of a funeral can run as high as $10,0002. Guaranteed Life Insurance from Gerber Life can be a smart choice to help offset these high costs.

Absolutely not. With Gerber Life, the amount you pay when your Guaranteed Life coverage starts is the same amount that you'll pay throughout the life of your policy. The only time your premiums may change is if you decide to increase your coverage or the frequency of your payments.

The Gerber Life Guaranteed Life Insurance policy comes with a graded death benefit limitation. It applies to the first two years of coverage when the policy is issued. If death occurs within the first two policy years for any reason other than an accident, all premiums plus 10% interest shall be paid to the beneficiary. If death is due to accidental causes within the first two policy years, the full death benefit shall be paid to the beneficiary.

After the two-year Graded Period, if the insured dies for any reason, the full face amount of the policy shall be paid to the beneficiary. If the insured dies by suicide within two years from the Issue Date, the only amount payable will be the premiums paid for the policy plus 10%, less any debt against the policy.

No medical exam is necessary for the Gerber Life Guaranteed Life Insurance policy. The only condition for becoming a Guaranteed Life policy owner is that you are between 50 and 80 years old. Your acceptance—regardless of your health—is guaranteed.

The Gerber Life "free look" feature gives you 30 days to examine and accept your Guaranteed Life Insurance whole life policy. If you decide that you no longer want the safety and coverage that your policy offers, simply return it for a full refund of all premiums that have been paid.

About the College Plan

There are three main differences between the Gerber Life College Plan and a 529 plan.

529 plans must be used for college expenses — or else penalties will be incurred. The Gerber Life College Plan can be used to pay for college expenses or anything else, once the policy reaches maturity.

The value of your 529 plan may be impacted by the ups and downs of the economy, which presents an element of risk. The Gerber Life College Plan offers stable growth that isn't impacted by economic fluctuations.

The Gerber Life College Plan is the only College Plan that also offers the additional benefit of adult life insurance.

The rate of return varies depending upon your specific policy, its duration, and your billing frequency. For further details about your specific policy's rate of return, please call us at 866-503-4487.

Unlike a standard bank savings account, the Gerber Life College Plan can guarantee how much money you'll have after 10 to 20 years (as long as premiums are paid) and can give you the added benefit of adult life insurance protection. So, should something happen to you — the full amount of your policy is paid as a death benefit to whomever you select as beneficiary.

The amount you'd get back depends on when you stop paying and surrender your policy. If you are past your policy's midway point (for a 10-year policy, the midpoint is about five years), you would get back all of the money you paid in.

About Gerber Life Insurance Company

Yes. Gerber Products, the baby food people, founded Gerber Life Insurance Company in 1967. Gerber Life is a financially separate affiliate of Gerber Products and has shared in their tradition of helping parents to raise happy, healthy children.

Gerber Life, which does business in the U.S., Puerto Rico, and Canada, has more than $45 billion of life insurance in force and insures more than 3 million policies. Source: Gerber Life 2013 Annual Statement.

A.M. Best, the impartial reporting firm that rates insurance companies on financial stability, management skill and integrity, has awarded Gerber Life an "A" (Excellent) rating, most recently in May 2015. It refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, rates or practices of the company. This rating is the third highest awarded out of thirteen possible categories.

The home office of Gerber Life Insurance Company is located in White Plains, New York. The Operations Division, responsible for issuing all policies and processing benefit payments is in Fremont, Michigan…home of the Gerber Products Company.

About Purchasing Gerber Life Insurance

Gerber Life is a licensed insurance company in all 50 states, Washington D.C., Canada and Puerto Rico. It is important to note, however, that some Gerber Life policies are not available in all areas. To find out more, refer to the specific policies descriptions elsewhere on the site, or email your specific question. A customer service representative will reply within 24 hours.

You will continue to receive a paper bill to the address listed on the policy, unless you enroll in either Paperless Billing (eBill) or automatic payments. We will also send you email reminders if you are enrolled in eBill or automatic payments.

Automatic Payments enables you to have your premiums automatically deducted from your payment account. Setting up Automatic Payments using your checking or savings account can also save you up to 10% on your premium bills!

If enrolled in Paperless Billing (eBill), we will replace the hardcopy premium notices with email reminders when your premium is due. You can then log into your eService account to submit your payment. To ensure our email reminders reach you, we will ask that you validate your email address during the enrollment process.

Yes. Gerber Life offers you the flexibility to change the due date of your premium payments based on your individual needs. This puts you in control of your payment due date, allowing you to select a new day of the month.

If you need to update your postal mailing address, email address or phone number, select "My Policies" and scroll down to the "Policyholder Details" section. This will update the contact information for ALL policies within your eService account.

To update your beneficiary, go to "My Policies" and select "Manage This Policy", followed by the "Update" button next to Beneficiary. Once the form is completed you will be prompted to download a PDF to print, sign and mail your Change of Beneficiary Form.

Go to "My Policies" and select "Manage This Policy". Scroll down to the "Loan Details" section to see if your policy is eligible for a loan. Depending on the type of policy you have and how long it has been active, you may or may not have this option.

We understand you want to give your child every advantage. The Grow-Up® Plan is a simple, budget-minded way to start for children ages 14 days to 14 years. For as little as $1 a week, you can give your child a lifetime of life insurance protection with plans starting at $5,000. Your decision today will help your child be better equipped for adult responsibilities tomorrow.